OUT THIS MORNING -- Details on President Obama’s “small business jobs package, including new lending initiatives to help creditworthy firms access capital, tax cuts to support investment and expansion, and enhancements to successful Small Business Administration programs.” 6-page fact sheet

--Excerpts from Obama’s prepared remarks, as he welcomes Small Business Owners of the Year from across the country to the Rose Garden at 11:15 a.m.: “Government can’t guarantee a company’s success, but it can knock down the barriers that prevent small business owners from getting loans or investing in the future. … That’s why I’m calling on Congress to pass a small business jobs package as soon as possible. … This shouldn’t be a partisan issue. This shouldn’t be an issue of big government versus small government. This is an issue of putting our government on the side of the small business owners who create most of the jobs in this country.”

NEW ONLINE TODAY -- GOOGLE releases its first state-by-state estimate of the revenue generated for small businesses by those little three-line text ads to the right of your search results. Google sys that for every $1 a small business spends on Google AdWords, it collects an average of $8. Senate Small Business chair Sen. Landrieu will join Google execs and small business owners at 9:30 a.m. in the Hugh Scott Room of the Capitol for release of the data, which will be online at google.com/economicimpact.

PRESS CORPS REMINDER -- 12:45 p.m.: “Harvard Law School’s Assistant Dean for Public Service Alexa Shabecoff and former Harvard Law School students Brandon Weiss (HLS ’08), Lauren Sudeall Lucas (HLS ’05), and Sarah Isgur (HLS ’08) will hold a conference call to discuss the role that then-Dean Elena Kagan played in expanding opportunities for Harvard Law School students to engage in public service.”

Good Tuesday morning. MSNBC dayside went with “TOO LITTLE, TOO LATE?” For “Hardball,” it was “CRUDE AWAKENING.” Katie Couric, who anchored the “CBS Evening News” from Grand Isle, La., began: “With the oil still gushing like a geyser, the anger is overflowing here as well.” On “Morning Joe,” Mark Halperin said President Obama needs to return to the Gulf. Rachel Maddow’s BP logo read, “BEYOND PATIENCE.”

--A former Bush administration official who was watching the coverage e-mailed: “So...the Networks have officially turned on The White House with the BP disaster. It took 3 days for Katrina ... but it’s over now.”

KAREN TUMULTY, from her new desk at The WashPost: “[T]he White House has tried to project a posture that is unflappable and in command. But to those tasked with keeping the president apprised of the disaster, Obama's clenched jaw is becoming an increasingly familiar sight. During one of those sessions in the Oval Office the first week after the spill, a president who rarely vents his frustration cut his aides short, according to one who was there. ‘Plug the damn hole,’ Obama told them.”

EXCLUSIVE to POLITICO’s “Morning Energy,” a new Playbook for energy/climate -- SUBPOENAS COMING: Look for aggressive, visible criminal investigations of BP, Transocean and Halliburton after the gusher is capped. That doesn’t necessarily mean jail sentences. But companies are assessed huge fines for much lesser environmental violations. Two years after the Valdez spill, the EPA announced Exxon would pay a record $1 billion in criminal fines and civil damages. Attorney General Holder asked the U.S. attorneys in the Gulf states to assess the damage for possible civil or criminal prosecutions. Holder told ABC’s “This Week” on May 9 that he “sent down representatives from the Justice Department to examine … whether or not there has been misfeasance, malfeasance.” They included astant attorney generals for the Civil Division and Environment and Natural Resources Division.

THE LEFT WILL LOVE -- “BP had a key role in the Exxon Valdez disaster,” by AP’s Noaki Schwartz: “[T]he leader of botched containment efforts in the critical hours after the tanker ran aground wasn't Exxon Mobil Corp. It was BP PLC, the same firm now fighting to plug the Gulf leak. BP owned a controlling interest in the Alaska oil industry consortium that was required to write a cleanup plan and respond to the spill two decades ago. … People who had a front row seat to the Alaska spill tell AP that BP's actions in the Gulf suggest it hasn't changed much at all.”

THE RIGHT WILL LOVE -- --NYT A1, “Climate Fears Turn to Doubts Among Britons,” by Elisabeth Rosenthal in London: “[T]he country has evolved into a home base for a thriving group of climate skeptics who have dominated news reports in recent months, apparently convincing many that the threat of warming is vastly exaggerated. A survey in February by the BBC found that only 26 percent of Britons believed that ‘climate change is happening and is now established as largely manmade,’ down from 41 percent in November 2009. A poll conducted for the German magazine Der Spiegel found that 42 percent of Germans feared global warming, down from 62 percent four years earlier. … The lack of fervor about climate change is also true of the United States, where action on climate and emissions reduction is still very much a work in progress, and concern about global warming was never as strong as in Europe. … Here in Britain, the change has been driven by the news media’s intensive coverage of a series of climate science controversies unearthed and highlighted by skeptics.”

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BREAKING -- DEAL ON “DON’T ASK” -- Jen DiMascio: “The White House lent its support to a proposal floated by three lawmakers that would repeal the ‘don't ask, don't tell’ ban on gays serving openly in the military, in a way that a top lawmaker says is palatable to the Pentagon. ‘The administration… supports the proposed amendment,’ OMB director Peter Orszag said in a brief letter to the measure’s co-sponsors, Sen. Carl Levin (D-Mich.), Sen. Joe Lieberman (I-Conn.) and Rep. Patrick Murphy (D-Pa.). Orszag letter ...Lieberman amendment

BIRTHDAYS: Sen. Amy Klobuchar (D-Minn.) is 5-0 … Emily DeRose, communications director of the Democratic Governors Association, leaves Thursday for a trip home to Duluth to celebrate with her family.

CAPITOL POLICE INVESTIGATED 78 CRIMINAL THREATS IN FY 2009 -- POLITICO’s Erika Lovley fleshed them out with FBI documents provided under a Freedom of Information Act request: “Sen. Debbie Stabenow (D-Mich.) and Rep. Paul Ryan (D-Wis.) were threatened with assassination. … Someone told Sen. Blanche Lincoln (D-Ark.) that her throat would be cut. Rep. Zoe Lofgren (D-Calif.) was told someone would physically ‘f--- her up’ if she held a town hall meeting in her district, according to the FBI files. … Senate Sergeant at Arms Terrance Gainer says threats against members of Congress were up 300 percent in the first few months of 2010. … The suspects are mostly men who own guns, and several had been treated for mental illness. Most of the suspects had just undergone some kind of major life stress, such as illness or the loss of a job. … Capitol Police … moved to provide ‘a more robust role’ to town hall meetings … Law enforcement responded immediately when Ryan was threatened back home in Wisconsin. The lawmaker was out walking with his daughter when a black sport utility vehicle pulled up alongside them. ‘You’ve got a bull’s-eye on your head,’ the driver allegedly told Ryan. ‘You’re gonna die, motherf---er.’ Local police records show that the driver believed Ryan had ‘blood on his hands’ for supporting the war in Iraq. He told police that he was on disability for arthritis and that he felt ‘frustrated’ that he could no longer support his family … The man was arrested for disorderly conduct, but the U.S. Attorney’s Office decided not to prosecute him after a search of his home revealed no weapons.”

ABOUT LAST NIGHT -- Gracie awards, presented by the American Women in Radio and Television, to Jessica Yellin, for outstanding hard news feature; Andrea Mitchell, for outstanding reporter/correspondent; Barbara Walters, for outstanding talk show; and “the “CBS Evening News with Katie Couric,” for breaking news coverage of the death of Walter Cronkite.

ANNE SCHROEDER MULLINS STARTS OWN FIRM -- John Harris and Jim VandeHei thank her: “Anne Schroeder Mullins was here even before there was a POLITICO, one of the original hires … Having caught the entrepreneurial bug at POLITICO, she has decided to go into business as a consultant. It’s a safe bet she will be a very successful one. Anne is a natural connector, one of those people who seems to know everyone and everyone seems to know. She has great intuitive skill at reading people and relating to them, and she has become a very shrewd student of Washington. These were valuable assets to her as a columnist—and one of the charter members of the CLICK team—and they are going to be valuable to her in this next adventure.”

2010 -- PALIN-BACKED HOUSE CANDIDATE PARROTS FAMED OBAMA SPEECH -- Josh Kraushaar: “In a kickoff speech … in January, [Idaho Republican House candidate Vaughn] Ward [a former CIA operations officer who volunteered as a Marine in Iraq, and headed the McCain-Palin campaign in Nevada] … closely followed Obama’s 2004 speech to the Democratic National Convention … Here’s what Obama said in 2004: ‘As we stand at the crossroads of history, we can make the right choices and meet the challenges that face us. If you feel the same urgency that I do, if you feel the same passion that I do, then I have no doubt the people will rise up in November and this country will reclaim its promise and out of this long political darkness, a brighter day will come.’ And here’s what Ward said in January: ‘As we stand on the crossroads of history, I know we can make the right choice and meet the challenges that lay before us. If you feel the same urgency and the same passion that I do, then I have no doubt that our voices will be heard in November. And our country will reclaim its promise and out of this darkness, a better day is on the horizon.’ … Ward, who looked like an early front-runner for the GOP nomination in Democrat Walt Minnick’s district, is in a close fight in Tuesday’s House primary with state Rep. Raul Labrador. … Former Alaska Gov. Sarah Palin visited the district Friday to campaign for Ward.” Video

--DEMS IN TROUBLE OUT WEST -- AP’s Kristen Wyatt in Longmont, Colo.: “[C]rossover voters who helped elect Obama president in 2008 are displaying a rugged individualist streak and echoing tea party-type distrust of all things Washington. … Democrats in the West are struggling to keep these new voters who helped the party turn Colorado, Nevada and New Mexico from Republican to Democratic … after the party's national convention in Denver. Westerners who also helped elect a raft of Democrats to the House and Senate now appear to be wavering. They're worried about federal spending. They're anxious about a new health care law in a region where a doctor can be several hours' drive away. They're afraid that Democrats' climate-change proposals will kill jobs in oil and gas fields. Illegal immigration dominates the debate … Vulnerable Democrats can be found in every Western state.”

SPEED READ, by Tim Alberta:

--NYT A1, “Oil Hits Home, Spreading Arc of Frustration,” by Campbell Robertson, Clifford Krauss and John M. Broder in Port Fourchon, La.: “For weeks, it was a disaster in abstraction, a threat floating somewhere out there. Not anymore. In the last week, the oil slick in the Gulf of Mexico has revealed itself to an angry and desperate public, smearing tourist beaches, washing onto the shorelines of sleepy coastal communities and oozing into marshy bays that fishermen have worked for generations. It has even announced its arrival on the Louisiana coast with a fittingly ugly symbol: brown pelicans, the state bird, dyed with crude.”

--WaPo A1, “Moran portfolio shows Congress’ leeway in trading,” by Robert O’Harrow Jr. and Dan Keating: “He was a stockbroker before he became a politician, and he continued playing the markets during his rise through Congress. Rep. James P. Moran Jr. (D-Va.) … brought a swagger to both endeavors, sometimes winning big, sometimes losing big. … Moran's dual focus illustrates the latitude that every lawmaker has under congressional rules to invest largely as each chooses, a much less regulated approach than what Congress has required for other government officials and private-sector executives.”

--WSJ, “Facebook Fracas Hits California Race,” by John Letzing: “The dust-up over Facebook Inc.'s privacy practices is becoming a political headache for the company's former privacy chief in his campaign for California attorney general. The social-networking service ... has come under criticism lately over privacy issues ... Chris Kelly's opponents in the June 8 Democratic primary had generally avoided the Facebook privacy issue. But in a volley last week, San Francisco District Attorney Kamala Harris made clear she intended to make use of the fracas surrounding Mr. Kelly's former employer.”

--WSJ A2, “Capital Journal: Voters' Faith Deficit Widens,” by Gerald F. Seib: “Amid the Great Depression of the 1930s, the country moved sharply to the left politically, then stayed there. Amid the Deep Recession of 2008, the country zigged to the left, but now seems to be zagging back to the right. Why the difference? ... It may be that the movement being seen now is less an ideological statement by Americans and more a reflection of a broad loss of confidence in big institutions, including the government.”

--AP, “More US troops in Afghanistan than Iraq, a first,” by Anne Gearan: “For the first time since the 2003 U.S. invasion of Iraq, there are more U.S. forces serving in Afghanistan than in Iraq. The Pentagon says that as of Saturday, 94,000 U.S. forces were in Afghanistan and 92,000 in Iraq. The figure for Afghanistan will rise to roughly 98,000 later this summer with the Obama administration's commitment of additional forces.”

OP-ED -- JOHN BOLTON in WSJ: “Like those of its predecessor, the efforts of the Obama administration to stop Iran's nuclear program have failed. North Korea's nuclear-weapons capability undergirds its belief that it can commit acts of aggression with impunity and therefore shows unambiguously why we must stop Iran. It also shows that the Security Council is gridlocked and impotent. The risks are growing as our president cheers on a world in which unilateral American power is diminished.”

BUSINESS BURST -- CNBC home page -- “Double Dip Recession Now Assured?” Patrick Allen, CNBC Senior News Editor: “Investors should be prepared for mid-June to August to be very volatile, as governments across the world attempt to raise money in a crowded market, one leading investor told CNBC.com. Problems in the euro-zone debt market could spread to the US and begin to impact states such as California and New York, this investor predicted. With so much debt needing to be refinanced, US rates would have to rise to attract enough foreign buyers of Treasurys, which could then push the economy back into the dreaded double-dip recession.”

--GOLDMAN SACHS 34-page deck on financial-services stocks: “[O]ur Washington analyst does not expect the Lincoln proposal [restricting derivatives trading, included in the Senate’s Wall Street reform bill] to make it into the final bill, but should this occur, it would be very negative for investments banks and potentially exchanges, as volumes would suffer. … While uncertainty remains over regulatory reform and sovereign risk, we still believe many of the fundamental trends are positive.”

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The GOP will never live down "government needs to get out of the way." This man-made disaster caused by BP's negligence (note to Rand Paul - this was no accident) will disproportionately effect republicans. Lie in your beds!

"Plug that damn hole" is an interesting headline. At risk of getting off topic I will point out there are some parallels here with the financial reform legislation.

BP literally needs to plug the hole in their oil well. Government literally needs to plug the holes in the oil, gas and mining regulations. The BP oil disaster is wreaking havoc not only on the environment, but the financial health of the Gulf of Mexico area; likely the American taxpayer too.

Now the parallel track. "Plug those damn loopholes" in the financial reform legislation. They have the potential not only wreak havoc on the economy; likely the American taxpayer too. So sad that congress and governmental agencies put the capitalists before the American people.

Oblabla is in waaaaay over his head. It gets more pathetic by the minute. To those of you who voted for him, the Office of the President of the United States IS NOT AN ENTRY LEVEL POSITION. Perhaps in 2012 we can elect someone who has actually held a job and does not whine when things do not go his way or when someone says something he does not like.